New Delhi, April 9 -- Shares of gold financing firms, including Muthoot Finance Ltd, Manappuram Finance Ltd, and IIFL Finance Ltd, dropped by as much as 9% on Wednesday following an announcement by RBI Governor Sanjay Malhotra regarding the upcoming release of detailed guidelines on gold loans.

The RBI Governor mentioned that loans secured by gold jewelry and ornaments, often referred to as gold loans, are provided by regulated entities for both consumption and income-generating uses.

"In order to harmonise guidelines across various types of regulated entities, to the extent possible, keeping in view their differential riskbearing capabilities, we shall issue comprehensive regulations on prudential norms and conduct related aspects for ...